REI in Miami looking for Feedback on Business Credit

[Leo Maldonado]

Hi Everyone! 

Very excited to see so many discussions about REI in Multi-family. I am a big believer that with hard work and the right mentality with good intentions, you will all find the success that you are looking for.

On to my question, I am looking at a few things right now to get my family set up with a deal here in Miami. I am not limiting myself to here, and I am open to all parts of Florida. 

My qustion is in regards to Business Credit. I have an offer from a lender that is currently asking for a 12% fee and in return they will provide my business with 60k in Funding. 

While this seems like a great thing to be able to use that credit to finance a DP, what are the risks I am taking on? 

Also, has anyone else used this method of finanacing to get started?